The St. Paul Cos. has adopted TransactNOW technology in partnership with AMS Services, Inc. This new technology gives agents and brokers the ability to process billing and claims inquiry transactions directly from their agency desktops using their own agency management systems.
This announcement comes on the heels of last week’s debut of The St. Paul’s SPCXPress(SM) platform, an innovative Web-based tool that enables contracted agents and brokers to qualify, price, issue and endorse small business policies online.
The St. Paul’s commitment to adopting technology that improves business processes for agents and brokers has been evident in the company’s significant investment in its small commercial platforms over the past year. Along with the adoption of TransactNOW, other St. Paul innovations include:
— SPCXPress(SM): The St. Paul’s new small business technology platform is unique in the marketplace for its ability to allow agents and brokers to quote and issue policies for the traditional small business client, as well as its ability to allow producers to quote and submit more complex small business accounts without having to re-enter data into agency systems.
— ACORD XML Adoption: For its work in this area, The St. Paul was a recipient of two major awards from ACORD this past year. The 2002 Business Process Redesign Award was received by The St. Paul for automating its claims first notice of loss reporting, which allows agents to simplify the claims process by entering claims in their own agency management systems and interface with The St. Paul’s claims system. In addition, the company received the 2002 Trading Partner Award for automating real-time quoting for small commercial risks, which lets agents use their agency management systems to get quotes from multiple carriers without duplicating data entry into several different carriers’ quoting systems.
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